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Analyst Seltzer predicts a correction of the dollar to 73 rubles in April

Photo by Mark Foster on Unsplash

The ruble exchange rate is under pressure from lower export earnings due to falling commodity prices and sanctions, as well as the recovery of imports, he said in a conversation with Life.ru.

The foreign trade conjuncture also leads to domestic pressure: the budget deficit is widening against the backdrop of falling export revenues. As a result, the ruble fell against the major currencies to the values of April 2022.

“Nevertheless, we are waiting for flows to stabilize and for budget balances to straighten out. The ruble in April may move to a moderate strengthening. For example, the average 2023 dollar exchange rate has risen to almost 73 rubles. This mark can be taken as a reference point for the correction of the currency for now,” Zeltser summed up.

Earlier, Nikita Maslennikov, a leading expert of the Center for Political Technologies, PhD in Economics, in a conversation with FBA “Economy Today” commented on the announcement that the Central Bank began to determine the ruble exchange rate against the New Zealand dollar.

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